Sorry that was an incomplete answer to begin with. According to http://www.lpl.com/html/downloads/MKT135faq-1003.pdf “Customer Assets Are Protected By SIPC
In addition, Congress created the Securities Investor Protection Corporation (SIPC) in 1970 to protect
customers of member broker-dealers that may fail or be liquidated. If any securities or cash are missing
from eligible customer accounts, the corporation steps in to replace those securities and cash.
This protection is limited to $500,000 per customer, including up to $100,000 in cash. SIPC does not
protect customers against market risk. (Losses resulting from a fall in a security’s value are not covered.)
See http://www.sipc.org for more information about SIPC.”
I’m just trying to verify that this would cover $100k in cash in a brokerage account in addition to the 100 the FDIC would cover in a savings account.
